NSE:HINDPETRO All About 200 DMA. How to use it to take Mid/Long term trade. 1)What is 200DMA? It is simple technical analysis tool that is an average of daily close price of last 200days/candles. It is used to smooth out the price and it will remove the intraday fluctuation noise. 200DMA == 200 Daily Moving Average 2)200DMA is the one of the main...
It has made a Bearish Harmonic Alt Shark near the trend line resistance. It could retrace till 220, view negates above 238
It appears to have formed a double bottom in lower time frame after the recent sell off. If it sustains above 260 then it could retest 275 where it finds its first level of resistance for any bounce/reversal.
Uptrend in Hindpetro. Trading above 50 & 200 EMA Crossed above the trend line
Read the chart and trade
MANY MANY NIFTY 50 STOCKS WITH THIS SAME PATTERN - No Wonder NIFTY is Shooting up. Are we looking at a potential tgt of 11300 for NIFTY